Livro: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Livro
Largest movements
- Current investments +€36,496
up €36,496 (+8.9%), from €410,990 to €447,486
- Cash +€26,652
up €26,652 (+27.0%), from €98,579 to €125,231
mainly Net result for the year (+€52,563) and Tax, wage and social debts (+€14,578)
- Receivables within one year +€6,872
up €6,872 (+22.6%), from €30,473 to €37,345
of which Other amounts receivable: +€5,249
- Reserves +€52,563
up €52,563 (+22.3%), from €235,440 to €288,002
- Tax, wage and social debts +€14,578
up €14,578 (+63.9%), from €22,831 to €37,409
of which Taxes: +€13,514
- Advances received +€7,966
new in 2025: €7,966
- Financial income +€6,034
up €6,034 (+1,097%), from €550 to €6,584
- Financial charges -€5,220
down €5,220 (-96.1%), from €5,429 to €209
- Staff costs +€4,511
up €4,511 (+11.0%), from €41,054 to €45,565
- Taxes +€2,788
up €2,788 (+11.5%), from €24,146 to €26,935
- Other operating charges +€2,561
up €2,561 (+450%), from €569 to €3,130
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €541,318 | €612,776 | +€71,458 | +13.2% |
| Fixed assets | 21/28 | €1,276 | €2,714 | +€1,438 | +113% |
| Tangible fixed assets | 22/27 | €1,276 | €2,714 | +€1,438 | +113% |
| Plant, machinery and equipment | 23 | - | €1,573 | +€1,573 | |
| Furniture and vehicles | 24 | €1,276 | €1,141 | -€134 | -10.5% |
| Current assets | 29/58 | €540,042 | €610,062 | +€70,020 | +13.0% |
| Amounts receivable within one year | 40/41 | €30,473 | €37,345 | +€6,872 | +22.6% |
| Trade receivables | 40 | €29,218 | €30,840 | +€1,623 | +5.6% |
| Other amounts receivable | 41 | €1,255 | €6,505 | +€5,249 | +418% |
| Current investments | 50/53 | €410,990 | €447,486 | +€36,496 | +8.9% |
| Cash at bank and in hand | 54/58 | €98,579 | €125,231 | +€26,652 | +27.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €541,318 | €612,776 | +€71,458 | +13.2% |
| Equity | 10/15 | €254,040 | €306,602 | +€52,563 | +20.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €235,440 | €288,002 | +€52,563 | +22.3% |
| Distributable reserves | 133 | €235,440 | €288,002 | +€52,563 | +22.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €287,278 | €306,174 | +€18,895 | +6.6% |
| Amounts payable within one year | 42/48 | €282,065 | €306,174 | +€24,109 | +8.5% |
| Trade debts | 44 | €3,506 | €3,259 | -€248 | -7.1% |
| Suppliers | 440/4 | €3,506 | €3,259 | -€248 | -7.1% |
| Advances received on contracts in progress | 46 | - | €7,966 | +€7,966 | |
| Taxes, remuneration and social security | 45 | €22,831 | €37,409 | +€14,578 | +63.9% |
| Taxes | 450/3 | €13,969 | €27,483 | +€13,514 | +96.7% |
| Remuneration and social security | 454/9 | €8,862 | €9,926 | +€1,064 | +12.0% |
| Other amounts payable | 47/48 | €255,727 | €257,540 | +€1,813 | +0.7% |
| Accrued charges and deferred income | 492/3 | €5,214 | €0 | -€5,214 | -100% |
| Remuneration, social security and pensions | 62 | €41,054 | €45,565 | +€4,511 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69 | €662 | +€593 | +856% |
| Other operating charges | 640/8 | €569 | €3,130 | +€2,561 | +450% |
| Gross operating margin | 9900 | €123,037 | €122,480 | -€557 | -0.5% |
| Operating profit (loss) | 9901 | €81,345 | €73,123 | -€8,222 | -10.1% |
| Financial income | 75/76B | €550 | €6,584 | +€6,034 | +1,097% |
| Recurring financial income | 75 | €550 | €6,584 | +€6,034 | +1,097% |
| Financial charges | 65/66B | €5,429 | €209 | -€5,220 | -96.1% |
| Recurring financial charges | 65 | €5,429 | €209 | -€5,220 | -96.1% |
| Profit (loss) for the period before taxes | 9903 | €76,466 | €79,498 | +€3,032 | +4.0% |
| Income taxes | 67/77 | €24,146 | €26,935 | +€2,788 | +11.5% |
| Profit (loss) for the period | 9904 | €52,319 | €52,563 | +€244 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,319 | €52,563 | +€244 | +0.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.